The dollar has risen again: exchange rates as of March 20
20 March 08:14
After several days of decline, the National Bank of Ukraine has once again raised the official dollar exchange rate. The foreign exchange market continues to show volatile trends, with the dollar’s value fluctuating between declines and increases. This is evidenced by the latest data published on the NBU’s official website, according to "Komersant Ukrainian"
What dollar exchange rate did the NBU set?
As of March 20, the official dollar exchange rate was set at 43.96 UAH per dollar, which is 7 kopecks higher than the previous day.
For comparison:
- On March 19, the rate was 43.89 UAH
- the cash exchange rate remained at around 43.15 UAH
Meanwhile, the euro exchange rate remained virtually unchanged. As of March 20, it stands at 50.50 UAH per euro, while the previous day it was 50.52 UAH.
Why the exchange rate fluctuates
Experts explain that currency fluctuations are linked to the balance of supply and demand in the interbank market, as well as to the overall economic situation.
Such short-term exchange rate fluctuations are typical for a managed currency market.
What the NBU reported on foreign exchange reserves
The National Bank also announced special operations to provide banks with foreign currency cash.
Specifically, on March 9 and 10, the NBU exchanged non-cash currency for cash to replenish bank vaults.
Results of currency operations
March 9:
- $100 million and €80 million were offered
- five banks participated
- applications were submitted for $53.1 million and €42 million
- All bids were accepted
March 10:
- $100 million and €35 million were offered
- One bank participated
- The application was for $20 million and €10 million
- The bid was fully executed
The NBU noted that these figures indicate that banks have sufficient cash reserves.
Will these transactions affect reserves
The regulator emphasized that such transactions do not affect Ukraine’s international currency reserves.
The National Bank also stated that it remains ready to conduct similar transactions depending on the needs of the banking system.
